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THIS IS THE CAUSE OF BITCOIN AND ALTCOIN PRICES TO CALL:
Cryptocurrency prices have recently experienced a significant decline. The cause of this decline is strongly suspected to be due to outflows in ETFs and digital asset investments as well as the FED's decision to hold interest rates.
At the time this article was written (18/6/2024), the price of Bitcoin was trading at around US$65,433, declining by 1.4% in the last 24 hours. Bitcoin's market capitalization also decreased by 1.5% to US$1.2 billion.
This largest cryptocurrency has experienced a decline of up to 4% in the past week since the Federal Reserve announced its decision to maintain the United States' benchmark interest rate in June.
Bitcoin's sluggish performance also affected other cryptocurrencies, such as Ethereum which fell more than 4.4% to US$3,427, according to CoinMarketCap data. Drastic declines also occurred in various large altcoins such as SOL (9.4%), DOGE (10%), ADA (8.8%), and SHIB (12%).
Overall, the decline in cryptocurrency prices caused 193,278 traders to be liquidated, with total liquidations reaching US$483.31 million according to data from Coinglass.
High Outflow from Crypto Investment Products
Reporting from CoinShares, crypto investment products experienced a weekly fund outflow of US$600 million last week, recording the highest record since March 22, 2024.
The recent outflows and sell-off caused total assets under management (AUM) to fall from above US$100 billion to US$94 billion in the week. Regionally, the US experienced most of the US$565 million outflow, followed by other countries such as Canada, Switzerland and Sweden.
These outflows were primarily focused on Bitcoin, totaling US$621 million. On June 17 alone, data from Farside Investors shows spot Bitcoin ETFs in the US recorded outflows of US$145.9 million.
This investment product experienced outflows on four out of five trading days last week.
#Write2Earn! #bitcoin☀️ #pepecoin🐸 #vickyiskandar $BTC $PEPE $ETH
Cryptocurrency prices have recently experienced a significant decline. The cause of this decline is strongly suspected to be due to outflows in ETFs and digital asset investments as well as the FED's decision to hold interest rates.
At the time this article was written (18/6/2024), the price of Bitcoin was trading at around US$65,433, declining by 1.4% in the last 24 hours. Bitcoin's market capitalization also decreased by 1.5% to US$1.2 billion.
This largest cryptocurrency has experienced a decline of up to 4% in the past week since the Federal Reserve announced its decision to maintain the United States' benchmark interest rate in June.
Bitcoin's sluggish performance also affected other cryptocurrencies, such as Ethereum which fell more than 4.4% to US$3,427, according to CoinMarketCap data. Drastic declines also occurred in various large altcoins such as SOL (9.4%), DOGE (10%), ADA (8.8%), and SHIB (12%).
Overall, the decline in cryptocurrency prices caused 193,278 traders to be liquidated, with total liquidations reaching US$483.31 million according to data from Coinglass.
High Outflow from Crypto Investment Products
Reporting from CoinShares, crypto investment products experienced a weekly fund outflow of US$600 million last week, recording the highest record since March 22, 2024.
The recent outflows and sell-off caused total assets under management (AUM) to fall from above US$100 billion to US$94 billion in the week. Regionally, the US experienced most of the US$565 million outflow, followed by other countries such as Canada, Switzerland and Sweden.
These outflows were primarily focused on Bitcoin, totaling US$621 million. On June 17 alone, data from Farside Investors shows spot Bitcoin ETFs in the US recorded outflows of US$145.9 million.
This investment product experienced outflows on four out of five trading days last week.
#Write2Earn! #bitcoin☀️ #pepecoin🐸 #vickyiskandar $BTC $PEPE $ETH
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Bitcoin Spot ETF fee war begins, issuers amend S-1 filings with lower sponsorship fees
Issuers of potential spot Bitcoin ETFs awaiting SEC approval have filed amendments to their S-1 forms that include competitive new fee rates - some as low as 0.24%
Anticipation of the United States Securities and Exchange Commission (SEC) decision regarding Bitcoin ( BTC ) exchange-traded funds (ETFs) continues as many applicants file amendments to their final S-1 forms
Valkyrie was the first company to file an amendment to its final S-1, followed by WisdomTree, BlackRock, VanEck, Invesco and Galaxy, Grayscale, and ARK Invest and 21Shares.
Among the amendments, many applicants also include lower fees, raising the bar for competitiveness between different ETF offerings.
The lowest Sponsor Fee for an ETF currently filed is from Bitwise, with no fees for the first six months and the first $1 billion in assets, followed by a 0.24% fee. Followed by ARK Invest and 21Shares which also do not include fees for the first six months or assets up to $1 billion, after which they will apply a fee of 0.25%.
Bloomberg market analyst Eric Balchunas called the drop in ARK and 21Share fees from 0.80% to 0.25% “stunning.” Balchunas said, “the cost war is intense, but it's a different level.”
VanEck lists a 0.25% fee, Franklin a 0.29% fee and Fidelity a 0.39% fee.
Global asset manager BlackRock sets fees for the iShare ETF at 0.20% for the first 12 months or up to the first $5 billion, then increases it to 0.30% as an ongoing fee.
$BTC #bitcoin #BTC！ #vickyiskandar
Issuers of potential spot Bitcoin ETFs awaiting SEC approval have filed amendments to their S-1 forms that include competitive new fee rates - some as low as 0.24%
Anticipation of the United States Securities and Exchange Commission (SEC) decision regarding Bitcoin ( BTC ) exchange-traded funds (ETFs) continues as many applicants file amendments to their final S-1 forms
Valkyrie was the first company to file an amendment to its final S-1, followed by WisdomTree, BlackRock, VanEck, Invesco and Galaxy, Grayscale, and ARK Invest and 21Shares.
Among the amendments, many applicants also include lower fees, raising the bar for competitiveness between different ETF offerings.
The lowest Sponsor Fee for an ETF currently filed is from Bitwise, with no fees for the first six months and the first $1 billion in assets, followed by a 0.24% fee. Followed by ARK Invest and 21Shares which also do not include fees for the first six months or assets up to $1 billion, after which they will apply a fee of 0.25%.
Bloomberg market analyst Eric Balchunas called the drop in ARK and 21Share fees from 0.80% to 0.25% “stunning.” Balchunas said, “the cost war is intense, but it's a different level.”
VanEck lists a 0.25% fee, Franklin a 0.29% fee and Fidelity a 0.39% fee.
Global asset manager BlackRock sets fees for the iShare ETF at 0.20% for the first 12 months or up to the first $5 billion, then increases it to 0.30% as an ongoing fee.
$BTC #bitcoin #BTC！ #vickyiskandar
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BONK VALUE IS DOWN 50% SINCE ATH⁉️
Bonk has experienced a sharp decline in its market value, as evidenced by recent price charts showing a loss of nearly 50% from its peak.
This dramatic decline highlights the risks inherent in investing in highly volatile digital assets, particularly assets like BONK, which may be influenced by their novelty or “meme” status rather than their underlying fundamentals.
BONK price action chart analysis shows a sharp rise followed by a sharp decline, a pattern reminiscent of other meme coins, such as Shiba Inu. This type of cryptocurrency often attracts attention and investment due to social media hype and speculative trading, resulting in rapid price increases.
However, without major technological or economic support, these investments tend to decline equally quickly, causing investors to experience significant losses.
For those who have made investments with leverage, the decline in BONK value is very disturbing. Leverage can increase profits when the market rises, but can result in greater losses when prices fall. The halving of BONK's value is a reminder of the dangers of taking advantage of the volatile cryptocurrency market, where the line between profit and loss can be very thin.
BONK's trajectory parallels that of Shiba Inu, which experienced a major breakthrough in the cryptocurrency scene, capturing the imagination and wallets of investors looking for their next big win.
However, when the initial excitement faded, the price struggled to maintain its skyrocketing heights, leading to a major pullback.
$BONK $SOL
#BONK #solana #vickyiskandar
Bonk has experienced a sharp decline in its market value, as evidenced by recent price charts showing a loss of nearly 50% from its peak.
This dramatic decline highlights the risks inherent in investing in highly volatile digital assets, particularly assets like BONK, which may be influenced by their novelty or “meme” status rather than their underlying fundamentals.
BONK price action chart analysis shows a sharp rise followed by a sharp decline, a pattern reminiscent of other meme coins, such as Shiba Inu. This type of cryptocurrency often attracts attention and investment due to social media hype and speculative trading, resulting in rapid price increases.
However, without major technological or economic support, these investments tend to decline equally quickly, causing investors to experience significant losses.
For those who have made investments with leverage, the decline in BONK value is very disturbing. Leverage can increase profits when the market rises, but can result in greater losses when prices fall. The halving of BONK's value is a reminder of the dangers of taking advantage of the volatile cryptocurrency market, where the line between profit and loss can be very thin.
BONK's trajectory parallels that of Shiba Inu, which experienced a major breakthrough in the cryptocurrency scene, capturing the imagination and wallets of investors looking for their next big win.
However, when the initial excitement faded, the price struggled to maintain its skyrocketing heights, leading to a major pullback.
$BONK $SOL
#BONK #solana #vickyiskandar
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Shiba Eternity SHIB Increases Utility with These 6 Changes
Shiboshi's seamless integration into Shiba Eternity promises an unforgettable personalized gaming experience.
The mobile version of Shiba Eternity includes more than 500,000 players.
The on-chain version brings new utility through Shiboshi integration.
Developer Shibarium is working on SHIB: The Metaverse.
The exponential growth of Shiba Inu's decentralized Shibarium Ecosystem throughout 2023 is extraordinary. The community's hopes of moving from Ether to a standalone blockchain consensus were fulfilled in August, while Layer-2 Shibarium amassed the impressive milestone of 250 million transactions on the public blockchain today.
2024 will bring more changes to the growing community behind these popular dog embossed coins. To illustrate, Shiba Inu developers have been hard at work on SHIB: The Metaverse, a virtual reality project for the Shiba Inu community, known as the SHIB Army.
In addition to improving the graphics, SHIB: Metaverse Alpha version aims to provide a coherent structure for SHIB holders to organize their virtual home in the virtual land of Shiba Inu. Giving priority to Shiba Inu (SHIB) Doge Killer (LEASH) alternative token holders and Shiboshis NFT holders, SHIB: Metaverse is “ready for testing,” according to its developers.
However, members of the SHIB Army have been waiting for an on-chain version of Shiba Eternity. This digital card game already has more than 500,000 players on its mobile version. In one of the most recent updates, SHIB Token marketing lead Lucie S. provided a glimpse of what Shiba Eternity will look like on-chain.
Shiba Eternity Brings This Important Advancement To Utilities
Shiboshis NFT , a collection of pixelated profile images, has launched alongside Shiba Inu on the Ethereum network. The collection of 10,000 non-fungible tokens (NFTs) provides a sense of exclusivity and pedigree.
$SHIB #shibaInu #SHIB #vickyiskandar
Shiboshi's seamless integration into Shiba Eternity promises an unforgettable personalized gaming experience.
The mobile version of Shiba Eternity includes more than 500,000 players.
The on-chain version brings new utility through Shiboshi integration.
Developer Shibarium is working on SHIB: The Metaverse.
The exponential growth of Shiba Inu's decentralized Shibarium Ecosystem throughout 2023 is extraordinary. The community's hopes of moving from Ether to a standalone blockchain consensus were fulfilled in August, while Layer-2 Shibarium amassed the impressive milestone of 250 million transactions on the public blockchain today.
2024 will bring more changes to the growing community behind these popular dog embossed coins. To illustrate, Shiba Inu developers have been hard at work on SHIB: The Metaverse, a virtual reality project for the Shiba Inu community, known as the SHIB Army.
In addition to improving the graphics, SHIB: Metaverse Alpha version aims to provide a coherent structure for SHIB holders to organize their virtual home in the virtual land of Shiba Inu. Giving priority to Shiba Inu (SHIB) Doge Killer (LEASH) alternative token holders and Shiboshis NFT holders, SHIB: Metaverse is “ready for testing,” according to its developers.
However, members of the SHIB Army have been waiting for an on-chain version of Shiba Eternity. This digital card game already has more than 500,000 players on its mobile version. In one of the most recent updates, SHIB Token marketing lead Lucie S. provided a glimpse of what Shiba Eternity will look like on-chain.
Shiba Eternity Brings This Important Advancement To Utilities
Shiboshis NFT , a collection of pixelated profile images, has launched alongside Shiba Inu on the Ethereum network. The collection of 10,000 non-fungible tokens (NFTs) provides a sense of exclusivity and pedigree.
$SHIB #shibaInu #SHIB #vickyiskandar
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IN 4 HOURS BITCOIN FALLED DUE TO LIQUIDATION OF $540 MILLION DOLLARS..
In a move that shocked the entire industry, Bitcoin's crash has caused more than $540 million to be liquidated from the crypto market in just 4 hours. It's true, the asset has fallen on fears of Spot Bitcoin ETF rejection. Specifically, the figure has dropped by 9% over the last 24 hours alone.
Financial services company, Matrixport , recently released a report anticipating a complete rejection of Bitcoin ETFs. Indeed, they expressed concern about the US Securities and Exchange Commission's (SEC) willingness to approve the product. In the end, they projected an initial rejection at the upcoming January 10 deadline.
Throughout the closing months of 2023, the Spot Bitcoin ETF decision dominated the digital asset sector. Experts across the board are discussing the potential impact of the agreement. Moreover, the possibility that such approval will occur in the first week of January is a common thought.
However, that is changing due to recent reports highlighting the potential for widespread resistance. Furthermore, the speculation has led to a massive drop in the price of Bitcoin, and more than $540 million was liquidated from the crypto market in the last 4 hours alone.
Bitcoin (BTC) celebrated the new year by surpassing the $45,000 mark for the first time since 2022. However, things quickly changed course, as in the last 24 hours the cryptocurrency fell by 9%. In turn, most of the gains on January 1 were clawed back, with massive liquidations occurring across derivatives exchanges.
Just last week, Reuters reported that approval for a Bitcoin ETF could come as soon as “Tuesday or Wednesday,” according to their sources. However, Matrixport noted the application's failure to meet “critical requirements” that would precede rejection of the investment product by the SEC.
$BTC #bitcoin #BTC🔥🔥 #BitcoinETF #vickyiskandar
In a move that shocked the entire industry, Bitcoin's crash has caused more than $540 million to be liquidated from the crypto market in just 4 hours. It's true, the asset has fallen on fears of Spot Bitcoin ETF rejection. Specifically, the figure has dropped by 9% over the last 24 hours alone.
Financial services company, Matrixport , recently released a report anticipating a complete rejection of Bitcoin ETFs. Indeed, they expressed concern about the US Securities and Exchange Commission's (SEC) willingness to approve the product. In the end, they projected an initial rejection at the upcoming January 10 deadline.
Throughout the closing months of 2023, the Spot Bitcoin ETF decision dominated the digital asset sector. Experts across the board are discussing the potential impact of the agreement. Moreover, the possibility that such approval will occur in the first week of January is a common thought.
However, that is changing due to recent reports highlighting the potential for widespread resistance. Furthermore, the speculation has led to a massive drop in the price of Bitcoin, and more than $540 million was liquidated from the crypto market in the last 4 hours alone.
Bitcoin (BTC) celebrated the new year by surpassing the $45,000 mark for the first time since 2022. However, things quickly changed course, as in the last 24 hours the cryptocurrency fell by 9%. In turn, most of the gains on January 1 were clawed back, with massive liquidations occurring across derivatives exchanges.
Just last week, Reuters reported that approval for a Bitcoin ETF could come as soon as “Tuesday or Wednesday,” according to their sources. However, Matrixport noted the application's failure to meet “critical requirements” that would precede rejection of the investment product by the SEC.
$BTC #bitcoin #BTC🔥🔥 #BitcoinETF #vickyiskandar
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TOMORROW IS BINANCE'S LAUNCHING DAY OF 50% BUY & SELL COMMISSION
Over the past 30 days, LUNC has seen a substantial increase, with a reported 97.22% increase in value, fueling speculation as to whether this surge is a temporary spike or the start of a sustainable upward trend.
The surge in LUNC value is mainly due to several significant developments in the Terra ecosystem. Terra Classic Labs made a strategic investment of approximately $500,000 into TerraClassicUSD (USTC), an algorithmic stablecoin associated with the Terra platform.
LUNC/USDT Chart by TradingView This capital injection is seen as a confidence-boosting move that may have contributed to the recent price rise.
Additionally, the Terra Classic community has supported the token, with a concerted effort aimed at reviving the beleaguered assets, resulting in impressive price growth for USTC and LUNC over a single weekend. An important factor behind this rally is the significant token burn that has occurred.
More than 78.24 billion LUNC tokens have been destroyed, reducing the circulating supply to 5.8 trillion and potentially adding pressure to the token price.
This token burning mechanism is often used in the cryptocurrency industry to manage inflation and increase the value of the token by reducing the supply.
$LUNC $USTC #Lunc #USTC #BinanceSquare #vickyiskandar
Over the past 30 days, LUNC has seen a substantial increase, with a reported 97.22% increase in value, fueling speculation as to whether this surge is a temporary spike or the start of a sustainable upward trend.
The surge in LUNC value is mainly due to several significant developments in the Terra ecosystem. Terra Classic Labs made a strategic investment of approximately $500,000 into TerraClassicUSD (USTC), an algorithmic stablecoin associated with the Terra platform.
LUNC/USDT Chart by TradingView This capital injection is seen as a confidence-boosting move that may have contributed to the recent price rise.
Additionally, the Terra Classic community has supported the token, with a concerted effort aimed at reviving the beleaguered assets, resulting in impressive price growth for USTC and LUNC over a single weekend. An important factor behind this rally is the significant token burn that has occurred.
More than 78.24 billion LUNC tokens have been destroyed, reducing the circulating supply to 5.8 trillion and potentially adding pressure to the token price.
This token burning mechanism is often used in the cryptocurrency industry to manage inflation and increase the value of the token by reducing the supply.
$LUNC $USTC #Lunc #USTC #BinanceSquare #vickyiskandar
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Breaking: Binance Announces USTC Perpetual Contract, LUNC Price Up 60% and USTC 300%
Terra Luna Classic (LUNC) and USTC prices surged massively as Binance Futures launched the USTC USD-M Perpetual Contract with 50x leverage.
The world's largest crypto exchange Binance on Monday said it will launch USTC perpetual contracts offering up to 50x leverage after careful review. The move surprisingly comes amidst a massive surge in TerraClassicUSD (USTC) and Terra Classic (LUNC) prices as Binance plans to launch USTC perpetual trading today at 12:30 UTC.
Binance Launches USTC Perpetual Trading
According to the official announcement by Binance on November 27, Binance Futures will launch the USD-M USTC Perpetual Contract. Binance is offering up to 50x leverage for USTC perpetual trading, which will launch at 12:30 UTC on November 27.
The funding fee settlement frequency is every four hours and the settlement asset is USDT. Additionally, the maximum funding rate of the USTCUSDT Perpetual Contract at launch is +2.00% / -2.00%, as per the announcement. Binance will allow its users to trade USTCUSDT Perpetual Contracts across multiple margin assets in Multi-Asset Mode.
“Eligible USDⓢ-margined futures liquidity providers will be eligible to enjoy a 0.005% maker fee rebate on USTCUSDT Perpetual Contract trades for approximately 14 to 15 days.”
The announcement further increased community sentiment, while also speculating whether this was already known to some investors as Terra ecosystem tokens experienced a sudden rally.
$LUNC $USTC #Lunc #USTC #vickyiskandar
Terra Luna Classic (LUNC) and USTC prices surged massively as Binance Futures launched the USTC USD-M Perpetual Contract with 50x leverage.
The world's largest crypto exchange Binance on Monday said it will launch USTC perpetual contracts offering up to 50x leverage after careful review. The move surprisingly comes amidst a massive surge in TerraClassicUSD (USTC) and Terra Classic (LUNC) prices as Binance plans to launch USTC perpetual trading today at 12:30 UTC.
Binance Launches USTC Perpetual Trading
According to the official announcement by Binance on November 27, Binance Futures will launch the USD-M USTC Perpetual Contract. Binance is offering up to 50x leverage for USTC perpetual trading, which will launch at 12:30 UTC on November 27.
The funding fee settlement frequency is every four hours and the settlement asset is USDT. Additionally, the maximum funding rate of the USTCUSDT Perpetual Contract at launch is +2.00% / -2.00%, as per the announcement. Binance will allow its users to trade USTCUSDT Perpetual Contracts across multiple margin assets in Multi-Asset Mode.
“Eligible USDⓢ-margined futures liquidity providers will be eligible to enjoy a 0.005% maker fee rebate on USTCUSDT Perpetual Contract trades for approximately 14 to 15 days.”
The announcement further increased community sentiment, while also speculating whether this was already known to some investors as Terra ecosystem tokens experienced a sudden rally.
$LUNC $USTC #Lunc #USTC #vickyiskandar
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Grayscale CEO's warning: Only two or three Bitcoin ETFs will survive
Bitcoin ETF fee war won't save funds from being pulled from the market, Grayscale CEO says.
Most Bitcoin ( BTC ) exchange-traded funds (ETFs) approved by the United States Securities and Exchange Commission (SEC) will not survive, Grayscale Investment CEO Michael Sonnenshein said.
In a January 18 interview with CNBC at the World Economic Forum in Davos, Switzerland, Sonnenshein predicted that the majority of the 11 approved spot Bitcoin ETFs would likely fail.
The US SEC officially approved 11 spot Bitcoin ETFs on January 10, with 10 starting trading the following day . Many ETF issuers are actively lowering their trading fees to increase competitiveness with other ETF sponsors, with most approved ETFs charging fees between 0.2% and 0.4% . Some Bitcoin ETF providers also offer temporary fee waivers.
On the other hand, Grayscale – the largest Bitcoin holder among spot Bitcoin ETF issuers – charges as much as 1.5% without any relief.
Sonnenshein defended Grayscale's fees for spot Bitcoin ETF products, which are the highest on the market, by stating that only two or three spot Bitcoin ETFs will survive, and the rest will be withdrawn from the market:
“I think from our perspective, sometimes their long-term commitment to the asset class may be questionable [...] I don't think that the market will ultimately have the 11 spot products that we have.”
Sonnenshein's statement came on the fifth day of Bitcoin ETF spot trading in the United States. Since the launch of trading, Grayscale has been the only issuer to aggressively dump Bitcoin, offloading a total of 37,947 BTC on January 18. In contrast, nine other publishers have added at least 40,000 BTC to their products since the start of trading.
$BTC #BitcoinETF #BTC!💰 #vickyiskandar
Bitcoin ETF fee war won't save funds from being pulled from the market, Grayscale CEO says.
Most Bitcoin ( BTC ) exchange-traded funds (ETFs) approved by the United States Securities and Exchange Commission (SEC) will not survive, Grayscale Investment CEO Michael Sonnenshein said.
In a January 18 interview with CNBC at the World Economic Forum in Davos, Switzerland, Sonnenshein predicted that the majority of the 11 approved spot Bitcoin ETFs would likely fail.
The US SEC officially approved 11 spot Bitcoin ETFs on January 10, with 10 starting trading the following day . Many ETF issuers are actively lowering their trading fees to increase competitiveness with other ETF sponsors, with most approved ETFs charging fees between 0.2% and 0.4% . Some Bitcoin ETF providers also offer temporary fee waivers.
On the other hand, Grayscale – the largest Bitcoin holder among spot Bitcoin ETF issuers – charges as much as 1.5% without any relief.
Sonnenshein defended Grayscale's fees for spot Bitcoin ETF products, which are the highest on the market, by stating that only two or three spot Bitcoin ETFs will survive, and the rest will be withdrawn from the market:
“I think from our perspective, sometimes their long-term commitment to the asset class may be questionable [...] I don't think that the market will ultimately have the 11 spot products that we have.”
Sonnenshein's statement came on the fifth day of Bitcoin ETF spot trading in the United States. Since the launch of trading, Grayscale has been the only issuer to aggressively dump Bitcoin, offloading a total of 37,947 BTC on January 18. In contrast, nine other publishers have added at least 40,000 BTC to their products since the start of trading.
$BTC #BitcoinETF #BTC!💰 #vickyiskandar
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Inside Bonk Inu: How 22 Developers Put Shiba Inu Fun Onto Solana and Away From FTX
Confused, fed up, and tired: Solana's popularity took a hit when reports of possible fraud at Sam Bankman-Fried's giant crypto exchange, FTX, first came to light. But the developers found a way to start the activity.
In recent weeks, Shiba inu-themed tokens have taken center stage in the Solana ecosystem as sentiment around the blockchain network took a hit following the Sam Bankman-Fried and FTX debacle.
Called Bonk inu (BONK), the project with a cute dog holding a bat as its mascot, launched with just a homepage and “bonkpaper” in the last weeks of 2022
Bonk Inu became the talk of Crypto Twitter almost overnight with almost everyone wondering the same thing, “What the heck is Bonk?”
Bonk Inu is a team of 22 individuals without a single leader, all involved in the inception of the project, All of whom have previously built decentralized applications (DeFi), non-fungible tokens (NFT) and other related products on Solana
There is no core team. It’s all volunteers,” said KW, a pseudonymous member of the Bonk Inu team, “We have all been in the Solana ecosystem for a long time and built relationships over the last two years.”
The crazy airdrop – of 50% of its token supply – likely drove huge community interest and instant hype. About 20% of the total airdrop supply went to the Solana NFT collection – which consists of 297,000 individual NFTs – and 10% to Solana-focused artists and collectors. Airdrops refer to the unsolicited distribution of cryptocurrency tokens or coins, usually free, to various wallet addresses and are generally used as a tactic to acquire users.
$BONK #BONK #SOL #vickyiskandar
Confused, fed up, and tired: Solana's popularity took a hit when reports of possible fraud at Sam Bankman-Fried's giant crypto exchange, FTX, first came to light. But the developers found a way to start the activity.
In recent weeks, Shiba inu-themed tokens have taken center stage in the Solana ecosystem as sentiment around the blockchain network took a hit following the Sam Bankman-Fried and FTX debacle.
Called Bonk inu (BONK), the project with a cute dog holding a bat as its mascot, launched with just a homepage and “bonkpaper” in the last weeks of 2022
Bonk Inu became the talk of Crypto Twitter almost overnight with almost everyone wondering the same thing, “What the heck is Bonk?”
Bonk Inu is a team of 22 individuals without a single leader, all involved in the inception of the project, All of whom have previously built decentralized applications (DeFi), non-fungible tokens (NFT) and other related products on Solana
There is no core team. It’s all volunteers,” said KW, a pseudonymous member of the Bonk Inu team, “We have all been in the Solana ecosystem for a long time and built relationships over the last two years.”
The crazy airdrop – of 50% of its token supply – likely drove huge community interest and instant hype. About 20% of the total airdrop supply went to the Solana NFT collection – which consists of 297,000 individual NFTs – and 10% to Solana-focused artists and collectors. Airdrops refer to the unsolicited distribution of cryptocurrency tokens or coins, usually free, to various wallet addresses and are generally used as a tactic to acquire users.
$BONK #BONK #SOL #vickyiskandar
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Terra Luna Classic v2.3.2 Upgrade Proposal Officially Passed, LUNC Price Soars 90% in One Week
Terra Luna Classic community passed proposal 11890 'Upgrade to v2.3.2' for resolution of sequence mismatch issue, LUNC price has jumped more than 90% in the last one week.
The Terra Luna Classic community has unanimously issued a proposal to resolve the sequence mismatch issue affecting some validators. This sequence mismatch issue led to some accounts being banned from further interaction with the chain.
The community had already approved the proposal for Sequence Mismatch Issue Resolve, but validators and L1TF core developers decided to change it to an improvement proposal. This makes it easier for validators and node operators to apply changes when the chain stops automatically.
Terra Luna Classic Pass v2.3.2 Improvement Proposal
Proposal 11890 “ Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution)” was successfully passed by the Terra Luna Classic community, with full support. The proposal requires community approval for on-chain implementation of the terrad v2.3.1 client.
The proposal received full support from the public, with a 100% “Yes” vote. In fact, it became the first proposal in months to receive a 100% affirmative vote.
Among the 46 validators who participated, all of them voted “Yes”. This includes top validators including Allnodes , Interstellar Lounge, Interstake One, StakeBin, JESUSisLORD and others
$LUNC #Lunc #lunaclassic #vickyiskandar
Terra Luna Classic community passed proposal 11890 'Upgrade to v2.3.2' for resolution of sequence mismatch issue, LUNC price has jumped more than 90% in the last one week.
The Terra Luna Classic community has unanimously issued a proposal to resolve the sequence mismatch issue affecting some validators. This sequence mismatch issue led to some accounts being banned from further interaction with the chain.
The community had already approved the proposal for Sequence Mismatch Issue Resolve, but validators and L1TF core developers decided to change it to an improvement proposal. This makes it easier for validators and node operators to apply changes when the chain stops automatically.
Terra Luna Classic Pass v2.3.2 Improvement Proposal
Proposal 11890 “ Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution)” was successfully passed by the Terra Luna Classic community, with full support. The proposal requires community approval for on-chain implementation of the terrad v2.3.1 client.
The proposal received full support from the public, with a 100% “Yes” vote. In fact, it became the first proposal in months to receive a 100% affirmative vote.
Among the 46 validators who participated, all of them voted “Yes”. This includes top validators including Allnodes , Interstellar Lounge, Interstake One, StakeBin, JESUSisLORD and others
$LUNC #Lunc #lunaclassic #vickyiskandar
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Meme Coin Value Soars, Raising $6.7 Billion in a Month With BONK, PEPE, and SHIB Leading the Rally
Explosive Growth in the Meme Coin Sector as Market Cap Hits $23.8 Billion
The meme coin economy is currently worth $23.8 billion , up $6.7 billion from the $17.1 billion number recorded 30 days ago. Nine of the top ten meme tokens have seen double-digit gains over the past week.
The top two leaders, in terms of market valuation, DOGE and SHIB , jumped 19.1% to 21.5% respectively. The third largest, pepe (Pepe), rose 43.5% against the greenback over the past week.
BONK is up 153%, while FLOKI is up 24.2% this week. MEME increased by 34.3%, and BABYDOGE increased by 30.8%. CORGIAI is the only member of the top ten not to have double-digit gains, but is up 4.5% over the past seven days.
The tenth largest meme coin, dubbed “harrypotterobamasonic10inu,” rose 31.9% against the US dollar. Other notable gainers in the world of meme coins are DOG, TOSHI, HUAHUA, and NFD.
In fact, including BONK, a total of 11 meme-based crypto assets recorded triple-digit increases. A total of 53 meme coin assets recorded double-digit gains against the US dollar.
The top meme coin, dogecoin (DOGE) , has a market valuation of $14.12 billion, which is equivalent to 59.32% of the entire meme coin economy. Shiba inu (SHIB) had a market cap of $5.97 billion as of December 9, 2023, accounting for more than 25% of the $23.8 billion meme coin market.
$DOGE $SHIB $PEPE
#doge #shibaInu #pepe #BONK #vickyiskandar
Explosive Growth in the Meme Coin Sector as Market Cap Hits $23.8 Billion
The meme coin economy is currently worth $23.8 billion , up $6.7 billion from the $17.1 billion number recorded 30 days ago. Nine of the top ten meme tokens have seen double-digit gains over the past week.
The top two leaders, in terms of market valuation, DOGE and SHIB , jumped 19.1% to 21.5% respectively. The third largest, pepe (Pepe), rose 43.5% against the greenback over the past week.
BONK is up 153%, while FLOKI is up 24.2% this week. MEME increased by 34.3%, and BABYDOGE increased by 30.8%. CORGIAI is the only member of the top ten not to have double-digit gains, but is up 4.5% over the past seven days.
The tenth largest meme coin, dubbed “harrypotterobamasonic10inu,” rose 31.9% against the US dollar. Other notable gainers in the world of meme coins are DOG, TOSHI, HUAHUA, and NFD.
In fact, including BONK, a total of 11 meme-based crypto assets recorded triple-digit increases. A total of 53 meme coin assets recorded double-digit gains against the US dollar.
The top meme coin, dogecoin (DOGE) , has a market valuation of $14.12 billion, which is equivalent to 59.32% of the entire meme coin economy. Shiba inu (SHIB) had a market cap of $5.97 billion as of December 9, 2023, accounting for more than 25% of the $23.8 billion meme coin market.
$DOGE $SHIB $PEPE
#doge #shibaInu #pepe #BONK #vickyiskandar
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This Hidden Ethereum (ETH) Support is Very Important..!!!
Ethereum is losing its bullish appeal, but there is a hidden support level that might save it
provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred when trading cryptocurrencies. Do your own research by contacting a financial expert before making any investment decisions. We believe that all content is accurate as of the date of publication, however certain offers mentioned may no longer be available.
Ethereum , the second largest cryptocurrency by market capitalization, has been going through a challenging phase. The once booming DeFi and NFT sectors, which significantly contributed to Ethereum's rapid rise, are currently weakening. Crowds and activity in these sectors have reduced, leading to a noticeable decline in Ethereum trading volume.
Additionally, the concept of Ethereum as “ultrasound money” is coming under scrutiny. Touted as a deflationary asset due to the EIP-1559 upgrade, which introduced a mechanism to burn some transaction fees, Ethereum's current state suggests otherwise. The resulting deflationary pressures are not as great as many people expected, raising questions about long-term economic models.
Amid these challenges, Ethereum is at a relatively low-key support level. This support, which is often overlooked in favor of more prominent price points, could play a critical role in determining ETH's trajectory in the coming weeks. If Ethereum manages to stay above this level, it could provide the foundation for a potential rebound. Conversely, a break below may worsen the bearish sentiment.
$ETH $BTC $XRP
#ethereum #vitalik #vickyiskandar #cryptocurrency #crypto2023
Ethereum is losing its bullish appeal, but there is a hidden support level that might save it
provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred when trading cryptocurrencies. Do your own research by contacting a financial expert before making any investment decisions. We believe that all content is accurate as of the date of publication, however certain offers mentioned may no longer be available.
Ethereum , the second largest cryptocurrency by market capitalization, has been going through a challenging phase. The once booming DeFi and NFT sectors, which significantly contributed to Ethereum's rapid rise, are currently weakening. Crowds and activity in these sectors have reduced, leading to a noticeable decline in Ethereum trading volume.
Additionally, the concept of Ethereum as “ultrasound money” is coming under scrutiny. Touted as a deflationary asset due to the EIP-1559 upgrade, which introduced a mechanism to burn some transaction fees, Ethereum's current state suggests otherwise. The resulting deflationary pressures are not as great as many people expected, raising questions about long-term economic models.
Amid these challenges, Ethereum is at a relatively low-key support level. This support, which is often overlooked in favor of more prominent price points, could play a critical role in determining ETH's trajectory in the coming weeks. If Ethereum manages to stay above this level, it could provide the foundation for a potential rebound. Conversely, a break below may worsen the bearish sentiment.
$ETH $BTC $XRP
#ethereum #vitalik #vickyiskandar #cryptocurrency #crypto2023
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SHIBARIUM HIT 34 MILLION TRANSACTIONS
In a surprising turn of events, Shiba Inu-based Ethereum Layer-2 scaling solution Shibarium has witnessed a tremendous spike in transaction activity, leaving the SHIB community doubtful over the authenticity of the numbers.
The daily transaction record on Shibarium soared to 7.82 million, with total transactions surging from four million to 34.6 million since the start of December.
As Shibarium Transaction Reaches Stunning Milestone, SHIB Price Reacts Addressing the increasing speculation, Kaal Dhairya , a leading contributor and developer in the Shiba Inu ecosystem , took action to dispel doubts.
In a recent post, Dhairya delved into the unprecedented transactional activity on Shibarium, providing insights that shed light on the platform's capabilities.
Source: Shibariumscan Dhairya assured the community that the spike in transactions was not the result of spam, and emphasized the legitimacy of the operation. Despite a 1,000% increase in gas fees, normal transaction costs are just a fraction of a cent, while complex operating costs remain affordable.
He highlighted that rising fuel costs contributed to the exponential growth of burning, which effectively reduced the circulating supply of SHIB.
“Shibarium can and will scale” The lead developer also revealed that network utilization has never exceeded 60%, indicating Shibarium's capacity to grow as adoption increases during truly bullish market trends.
Remarkably, there were no outages or firefighting scenarios, although teams remained vigilant throughout the surge.
$SHIB #shiba #shibarium #vickyiskandar
In a surprising turn of events, Shiba Inu-based Ethereum Layer-2 scaling solution Shibarium has witnessed a tremendous spike in transaction activity, leaving the SHIB community doubtful over the authenticity of the numbers.
The daily transaction record on Shibarium soared to 7.82 million, with total transactions surging from four million to 34.6 million since the start of December.
As Shibarium Transaction Reaches Stunning Milestone, SHIB Price Reacts Addressing the increasing speculation, Kaal Dhairya , a leading contributor and developer in the Shiba Inu ecosystem , took action to dispel doubts.
In a recent post, Dhairya delved into the unprecedented transactional activity on Shibarium, providing insights that shed light on the platform's capabilities.
Source: Shibariumscan Dhairya assured the community that the spike in transactions was not the result of spam, and emphasized the legitimacy of the operation. Despite a 1,000% increase in gas fees, normal transaction costs are just a fraction of a cent, while complex operating costs remain affordable.
He highlighted that rising fuel costs contributed to the exponential growth of burning, which effectively reduced the circulating supply of SHIB.
“Shibarium can and will scale” The lead developer also revealed that network utilization has never exceeded 60%, indicating Shibarium's capacity to grow as adoption increases during truly bullish market trends.
Remarkably, there were no outages or firefighting scenarios, although teams remained vigilant throughout the surge.
$SHIB #shiba #shibarium #vickyiskandar
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Breaking: Binance Burns 4 Billion Terra Luna Classic (LUNC) Tokens.
Binance burned nearly 4 billion Terra Luna Classic (LUNC) tokens, with total LUNC burns by the community reaching 83 billion.
The world's largest exchange burned nearly 4 billion Terra Luna Classic (LUNC) tokens in the 16th wave of LUNC burns. With the latest LUNC burn, total LUNC burns by crypto exchanges to date reach over 43 billion , 52% of the total tokens burned by the Terra Luna Classic community. Traders did not immediately respond to the Binance burn.
Binance's Terra Luna Classic (LUNC) Net Burn Reaches 43 Billion
Crypto exchange Binance sent 3.90 billion Terra Luna Classic (LUNC) tokens to the burn address, according to a transaction on December 1. Binance continues to contribute to the community's LUNC burning campaign to reduce the circulating supply of LUNC following the exit of Changpeng “CZ” Zhao as CEO of Binance.
Specifically, the 16th wave of LUNC burning mechanism is for the period 31 October to 29 November. With the latest burn, Binance has burned over 43 billion Terra Classic tokens from trading fees on LUNC spot and margin trading pairs. The community has burned nearly 83 billion LUNC tokens.
In November, Binance burned 760 million Terra Luna Classic (LUNC) tokens, the lowest to date. The burn rate decreased significantly amidst FUD, reduced developer activity, and a decrease in LUNC trading volume on exchanges.
The massive spike in trading volume this week resulted in a massive LUNC burn the likes of which the community has not seen in recent months. Binance launched USTC perpetual contracts and new USTC trading pairs FDUSD and TRY, which contributed greatly to the exchange's trading volume.
$LUNC #Lunc #BinanceSquare #vickyiskandar
Binance burned nearly 4 billion Terra Luna Classic (LUNC) tokens, with total LUNC burns by the community reaching 83 billion.
The world's largest exchange burned nearly 4 billion Terra Luna Classic (LUNC) tokens in the 16th wave of LUNC burns. With the latest LUNC burn, total LUNC burns by crypto exchanges to date reach over 43 billion , 52% of the total tokens burned by the Terra Luna Classic community. Traders did not immediately respond to the Binance burn.
Binance's Terra Luna Classic (LUNC) Net Burn Reaches 43 Billion
Crypto exchange Binance sent 3.90 billion Terra Luna Classic (LUNC) tokens to the burn address, according to a transaction on December 1. Binance continues to contribute to the community's LUNC burning campaign to reduce the circulating supply of LUNC following the exit of Changpeng “CZ” Zhao as CEO of Binance.
Specifically, the 16th wave of LUNC burning mechanism is for the period 31 October to 29 November. With the latest burn, Binance has burned over 43 billion Terra Classic tokens from trading fees on LUNC spot and margin trading pairs. The community has burned nearly 83 billion LUNC tokens.
In November, Binance burned 760 million Terra Luna Classic (LUNC) tokens, the lowest to date. The burn rate decreased significantly amidst FUD, reduced developer activity, and a decrease in LUNC trading volume on exchanges.
The massive spike in trading volume this week resulted in a massive LUNC burn the likes of which the community has not seen in recent months. Binance launched USTC perpetual contracts and new USTC trading pairs FDUSD and TRY, which contributed greatly to the exchange's trading volume.
$LUNC #Lunc #BinanceSquare #vickyiskandar
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DO KWON IS BACK $15 MILLION
LUNA CLASSIC (LUNC),USTC,LUNA 2.0
This token was among the strongest performers among the top hundred tokens by market capitalization in the past week.
Several tokens associated with Terra's two ecosystems – Terra 2.0 and Terra Classic – more than doubled over the past week, extending this year's gains to more than 10,000% in what could mark one of the best project turnaround stories in the crypto industry.
“Many established Layer 1 (L1) public blockchain networks face significant headwinds; Ethereum faced a DAO hack, Solana experienced a network outage, and Bitcoin experienced a hard fork,” said James Wo, founder of crypto fund DFG in a Telegram message to CoinDesk.
“Despite facing a fatal explosive event, this has not weakened the strength of the community and technology at its core. Terra stands out as a community of motivated and skilled individuals. Through strategic realignment and adaptability, they demonstrated resilience and unwavering faith in the Terra ecosystem. "This is a story worth watching," Wo added.
Three tokens, Luna Classic (LUNC) , terra 2.0 (LUNA) and terraUSD classic USTC, have surged as much as 70% in the past 24 hours, extending their weekly gains to over 300%.
Cumulative trading volume surpassed the $2 billion mark
Terra Classic is the original network created by Terraform Labs. It continues as an independent blockchain rather than Terra 2.0, which was a forked version created after the Terra collapse. LUNA Terra 2.0 is now actively traded on the market, as are LUNC and USTC Terra Classic, its native tokens.
This pump uses various catalysts. Last week, Terraform Labs said it had allocated $15 million to two projects in the Terra ecosystem to buffer liquidity, making certain trading pools on the platform more attractive to on-chain traders.
$LUNC $USTC $LUNA
#Lunc #USTC #vickyiskandar
LUNA CLASSIC (LUNC),USTC,LUNA 2.0
This token was among the strongest performers among the top hundred tokens by market capitalization in the past week.
Several tokens associated with Terra's two ecosystems – Terra 2.0 and Terra Classic – more than doubled over the past week, extending this year's gains to more than 10,000% in what could mark one of the best project turnaround stories in the crypto industry.
“Many established Layer 1 (L1) public blockchain networks face significant headwinds; Ethereum faced a DAO hack, Solana experienced a network outage, and Bitcoin experienced a hard fork,” said James Wo, founder of crypto fund DFG in a Telegram message to CoinDesk.
“Despite facing a fatal explosive event, this has not weakened the strength of the community and technology at its core. Terra stands out as a community of motivated and skilled individuals. Through strategic realignment and adaptability, they demonstrated resilience and unwavering faith in the Terra ecosystem. "This is a story worth watching," Wo added.
Three tokens, Luna Classic (LUNC) , terra 2.0 (LUNA) and terraUSD classic USTC, have surged as much as 70% in the past 24 hours, extending their weekly gains to over 300%.
Cumulative trading volume surpassed the $2 billion mark
Terra Classic is the original network created by Terraform Labs. It continues as an independent blockchain rather than Terra 2.0, which was a forked version created after the Terra collapse. LUNA Terra 2.0 is now actively traded on the market, as are LUNC and USTC Terra Classic, its native tokens.
This pump uses various catalysts. Last week, Terraform Labs said it had allocated $15 million to two projects in the Terra ecosystem to buffer liquidity, making certain trading pools on the platform more attractive to on-chain traders.
$LUNC $USTC $LUNA
#Lunc #USTC #vickyiskandar
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Cryptocurrency exchange Kraken is facing another lawsuit from the US Securities and Exchange Commission (SEC). Notably, the SEC's latest lawsuit has categorized Cardano (ADA) and Solana (SOL), among other cryptocurrencies, as securities.
Kraken's firm stance on SEC claims In response to an SEC lawsuit alleging unregistered securities exchange operations, Kraken CEO Dave Ripley took X to emphasize the company's position. Ripley strongly disagreed with the SEC's claims, emphasizing that Kraken does not list securities.
The CEO outlined that the lack of a clear registration path with the SEC and factual inaccuracies in the allegations highlight broader problems in policymaking in the United States.
He called for Congressional action to resolve the regulatory ambiguity and pledged Kraken's continued support towards efforts to bring clarity to the US crypto environment.
Related ADA, SOL and other coins under SEC scrutiny Following similar actions against other major exchanges, the SEC's lawsuit against Kraken is part of a broader trend of recognizing various cryptocurrencies as securities.
Earlier this year, the SEC filed lawsuits against Binance and Coinbase, alleging that tokens such as ADA, SOL, and Polygon (MATIC) were unregistered securities.
Cardano founder Charles Hoskinson has clarified that there have been no enforcement actions specifically targeting ADA, amid rumors of increased SEC scrutiny. Both Input Output Global (IOG), the development company behind the Cardano blockchain, and the Solana Foundation have rejected regulators' claims that ADA and SOL are securities.
$SOL $ADA $MATIC
#solana #cardano #MATIC #vickyiskandar #sec
Kraken's firm stance on SEC claims In response to an SEC lawsuit alleging unregistered securities exchange operations, Kraken CEO Dave Ripley took X to emphasize the company's position. Ripley strongly disagreed with the SEC's claims, emphasizing that Kraken does not list securities.
The CEO outlined that the lack of a clear registration path with the SEC and factual inaccuracies in the allegations highlight broader problems in policymaking in the United States.
He called for Congressional action to resolve the regulatory ambiguity and pledged Kraken's continued support towards efforts to bring clarity to the US crypto environment.
Related ADA, SOL and other coins under SEC scrutiny Following similar actions against other major exchanges, the SEC's lawsuit against Kraken is part of a broader trend of recognizing various cryptocurrencies as securities.
Earlier this year, the SEC filed lawsuits against Binance and Coinbase, alleging that tokens such as ADA, SOL, and Polygon (MATIC) were unregistered securities.
Cardano founder Charles Hoskinson has clarified that there have been no enforcement actions specifically targeting ADA, amid rumors of increased SEC scrutiny. Both Input Output Global (IOG), the development company behind the Cardano blockchain, and the Solana Foundation have rejected regulators' claims that ADA and SOL are securities.
$SOL $ADA $MATIC
#solana #cardano #MATIC #vickyiskandar #sec
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Circle Issues Euro-Backed Stablecoin EURC Natively on Solana Blockchain
Circle said it intends for EURC to become a regulated electronic money token under the upcoming EU digital assets regulations.
The company said it intends EURC to become an electronic money token regulated under EU regulations.
Stablecoin issuer Circle Internet Financial said its euro-backed EURC stablecoin is active on the Solana (SOL) blockchain, which is known for its cheap, fast transactions and support for a wide range of ecosystem applications.
Decentralized finance (DeFi) applications and Solana-based digital wallets including Jupiter Exchange, Meteora, Orca, and Phoenix have added support for stablecoins, allowing users to make foreign exchange transactions,
EURC is well positioned to radically increase utility across Europe's peer-to-peer transfer and remittance corridors,” Circle said Monday.
The $130 billion asset class STABLECOINS, are a key part of the plumbing in the digital asset market, serving as a bridge between government-issued fiat money and the cryptocurrencies that power trade and transactions on blockchain networks. Banks are also increasingly used for savings in developing countries with fragile financial systems and for remittances between countries, offering faster and cheaper transactions than traditional banking alternatives.
Research firm Bernstein estimated earlier this year that stablecoins had the potential to grow into a nearly $3 trillion market in the next five years as global financial and consumer platforms leverage tokens on public blockchains to power exchanges of value.
$SOL #Solana📈🚀🌐 #vickyiskandar
Circle said it intends for EURC to become a regulated electronic money token under the upcoming EU digital assets regulations.
The company said it intends EURC to become an electronic money token regulated under EU regulations.
Stablecoin issuer Circle Internet Financial said its euro-backed EURC stablecoin is active on the Solana (SOL) blockchain, which is known for its cheap, fast transactions and support for a wide range of ecosystem applications.
Decentralized finance (DeFi) applications and Solana-based digital wallets including Jupiter Exchange, Meteora, Orca, and Phoenix have added support for stablecoins, allowing users to make foreign exchange transactions,
EURC is well positioned to radically increase utility across Europe's peer-to-peer transfer and remittance corridors,” Circle said Monday.
The $130 billion asset class STABLECOINS, are a key part of the plumbing in the digital asset market, serving as a bridge between government-issued fiat money and the cryptocurrencies that power trade and transactions on blockchain networks. Banks are also increasingly used for savings in developing countries with fragile financial systems and for remittances between countries, offering faster and cheaper transactions than traditional banking alternatives.
Research firm Bernstein estimated earlier this year that stablecoins had the potential to grow into a nearly $3 trillion market in the next five years as global financial and consumer platforms leverage tokens on public blockchains to power exchanges of value.
$SOL #Solana📈🚀🌐 #vickyiskandar
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GET TO KNOW MORE ABOUT THE BITGERT BRISE BRC-20 PROJECT🟣🟣🟣
Bitgert (BRISE) is a crypto project launched in July 2021 that specializes in blockchain products and audit solutions. Initially, BRISE Coin was built on BNB Chain and used BNB Coin, to pay out rewards.
But one of the most significant Bitgert developments presented in 2022 is the presence of the Brise Chain blockchain. The network offers near-zero gas fees and high-speed cross-chain transactions
Bitgert offers an alternative to popular DEX platforms such as PancakeSwap. BRISE Wallet DApp is the ultimate gateway to the ecosystem, allowing users to securely send, receive, store and exchange various crypto assets.
Bitgert's product list also includes Audit solutions with Leaderboard Support, BRISE dApp Wallet, BRISE staking, BRISE Swap, and Bitgert Bridge.
BRISE Coin is Bitgert's native crypto token, which allows investors to profit from staking and earning rewards in Binance USD (BUSD).
BRISE claims to have real utility by becoming a global payment system and being implemented as a peer-to-peer (P2P) service in the BRISE Wallet dApp. Thus, buyers and sellers interact directly, without the participation of third parties, through P2P services, and transactions are carried out quickly, safely and without fees.
Who is the Founder of Bitgert?
The Bitgert project started its journey in the summer of 2021, the whitepaper shows the platform launched in July. So far the development team has been working anonymously, but it was announced they plan to reveal their identities when the time comes.
So far, no specific deadline has been published, but one thing remains certain.
What Makes Bitgert Unique?
Bitgert (BRISE) uses a DeFi protocol and is deployed on the BNB Chain. The rapidly growing ecosystem includes areas such as DeFi, NFT, Web 3.0 and Metaverse.
#BRISE #bitgert #vickyiskandar
Bitgert (BRISE) is a crypto project launched in July 2021 that specializes in blockchain products and audit solutions. Initially, BRISE Coin was built on BNB Chain and used BNB Coin, to pay out rewards.
But one of the most significant Bitgert developments presented in 2022 is the presence of the Brise Chain blockchain. The network offers near-zero gas fees and high-speed cross-chain transactions
Bitgert offers an alternative to popular DEX platforms such as PancakeSwap. BRISE Wallet DApp is the ultimate gateway to the ecosystem, allowing users to securely send, receive, store and exchange various crypto assets.
Bitgert's product list also includes Audit solutions with Leaderboard Support, BRISE dApp Wallet, BRISE staking, BRISE Swap, and Bitgert Bridge.
BRISE Coin is Bitgert's native crypto token, which allows investors to profit from staking and earning rewards in Binance USD (BUSD).
BRISE claims to have real utility by becoming a global payment system and being implemented as a peer-to-peer (P2P) service in the BRISE Wallet dApp. Thus, buyers and sellers interact directly, without the participation of third parties, through P2P services, and transactions are carried out quickly, safely and without fees.
Who is the Founder of Bitgert?
The Bitgert project started its journey in the summer of 2021, the whitepaper shows the platform launched in July. So far the development team has been working anonymously, but it was announced they plan to reveal their identities when the time comes.
So far, no specific deadline has been published, but one thing remains certain.
What Makes Bitgert Unique?
Bitgert (BRISE) uses a DeFi protocol and is deployed on the BNB Chain. The rapidly growing ecosystem includes areas such as DeFi, NFT, Web 3.0 and Metaverse.
#BRISE #bitgert #vickyiskandar
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APROVED BITCOIN ETF SPOT JUST CREATES SELLING PRESSURE⁉️
Bitcoin Spot ETF Market Impact
JPMorgan analyst Nikolaos Panigirtzoglou shared his predictions about the potential impact on bitcoin prices of the US Securities and Exchange Commission (SEC) approving bitcoin exchange-traded funds (ETFs) in a Linkedin post on Friday.
While emphasizing his confidence in the SEC's approval of a spot bitcoin ETF in the near future, he cautioned that client discussions center on potential capital outflows from the Grayscale Bitcoin Trust (GBTC) as it transitions into a bitcoin ETF.
“The argument is that a large number of GBTC shares have been purchased in the secondary market this year at a large discount to NAV in anticipation of their conversion to an ETF and these speculative investors will take advantage once GBTC is converted to an ETF and discounted to an ETF. NAV is arbitrated,” explains Panigirtzoglou. “We estimate about $2.7 billion could be generated from GBTC.” JPMorgan estimates:
In terms of market impact, if this $2.7 billion exits the bitcoin space completely, then the outflow will of course put huge pressure on the price of bitcoin.
“If most of this $2.7 billion is shifted to other bitcoin instruments such as the newly created spot bitcoin ETF after SEC approval, which is our best estimate, then the negative impact on the market will be smaller. "Nevertheless, the balance of risks to the bitcoin price is tilted to the downside in our opinion as some of this $2.7 billion is likely to exit the bitcoin space entirely," the analyst continued.
“Significantly more money than the above $2.7 billion could come out of GBTC if the fee (currently at 200bp) is not sharply reduced post ETF conversion towards our estimated balance fee range of around 50-80bp,” he warned.
$BTC #bitcoin #BTC #vickyiskandar
Bitcoin Spot ETF Market Impact
JPMorgan analyst Nikolaos Panigirtzoglou shared his predictions about the potential impact on bitcoin prices of the US Securities and Exchange Commission (SEC) approving bitcoin exchange-traded funds (ETFs) in a Linkedin post on Friday.
While emphasizing his confidence in the SEC's approval of a spot bitcoin ETF in the near future, he cautioned that client discussions center on potential capital outflows from the Grayscale Bitcoin Trust (GBTC) as it transitions into a bitcoin ETF.
“The argument is that a large number of GBTC shares have been purchased in the secondary market this year at a large discount to NAV in anticipation of their conversion to an ETF and these speculative investors will take advantage once GBTC is converted to an ETF and discounted to an ETF. NAV is arbitrated,” explains Panigirtzoglou. “We estimate about $2.7 billion could be generated from GBTC.” JPMorgan estimates:
In terms of market impact, if this $2.7 billion exits the bitcoin space completely, then the outflow will of course put huge pressure on the price of bitcoin.
“If most of this $2.7 billion is shifted to other bitcoin instruments such as the newly created spot bitcoin ETF after SEC approval, which is our best estimate, then the negative impact on the market will be smaller. "Nevertheless, the balance of risks to the bitcoin price is tilted to the downside in our opinion as some of this $2.7 billion is likely to exit the bitcoin space entirely," the analyst continued.
“Significantly more money than the above $2.7 billion could come out of GBTC if the fee (currently at 200bp) is not sharply reduced post ETF conversion towards our estimated balance fee range of around 50-80bp,” he warned.
$BTC #bitcoin #BTC #vickyiskandar
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Ripple Integration With ISDA Brings $1.2 Quadrillion Market,XRP Breaks $100?
XRP, Ripple's native token, is poised to take part in the $1.2 quadrillion derivatives market following Ripple's integration into the ranks of ISDA recipients.
XRP Will Enter $1.2 Quadrillion Derivatives Market
Earlier in August 2023, Ripple, a crypto payments solution, announced its membership in the International Swaps and Derivatives Association (ISDA). This strategic move came as a pleasant surprise to members of the XRP community, as it positions XRP to fully take part in the massive $1.2 quadrillion derivatives market.
Ripple's entry into this prestigious club is seen as an important milestone, allowing the crypto payments company to stand alongside financial giants such as JP Morgan , Goldman Sachs and the London Stock Exchange.
Many XRP fans are looking forward to the bullish prospects for the XRP token. Some are even considering the possibility of XRP breaking through the $100 threshold. These expectations are fueled by the consideration that successful performance in derivatives markets could be a catalyst for significant cryptocurrency price movements.
Currently, XRP prices have not shown any significant price growth, even with speculation that a Ripple IPO is imminent. Nevertheless, enthusiasts remain vigilant, closely watching the cryptocurrency for any developments that could push its price up. The $100 milestone, if achieved, has the potential to further strengthen the altcoin's position in the crypto space.
$XRP #XRP #Ripple #vickyiskandar
XRP, Ripple's native token, is poised to take part in the $1.2 quadrillion derivatives market following Ripple's integration into the ranks of ISDA recipients.
XRP Will Enter $1.2 Quadrillion Derivatives Market
Earlier in August 2023, Ripple, a crypto payments solution, announced its membership in the International Swaps and Derivatives Association (ISDA). This strategic move came as a pleasant surprise to members of the XRP community, as it positions XRP to fully take part in the massive $1.2 quadrillion derivatives market.
Ripple's entry into this prestigious club is seen as an important milestone, allowing the crypto payments company to stand alongside financial giants such as JP Morgan , Goldman Sachs and the London Stock Exchange.
Many XRP fans are looking forward to the bullish prospects for the XRP token. Some are even considering the possibility of XRP breaking through the $100 threshold. These expectations are fueled by the consideration that successful performance in derivatives markets could be a catalyst for significant cryptocurrency price movements.
Currently, XRP prices have not shown any significant price growth, even with speculation that a Ripple IPO is imminent. Nevertheless, enthusiasts remain vigilant, closely watching the cryptocurrency for any developments that could push its price up. The $100 milestone, if achieved, has the potential to further strengthen the altcoin's position in the crypto space.
$XRP #XRP #Ripple #vickyiskandar